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Friday, June 21, 2024

CAP to pay 100% dividend

The Saigon Times

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HCMC – Yen Bai Joint Stock Forest Agricultural Products and Foodstuff Company (HNX: CAP) has announced to pay a dividend of 100% for fiscal 2023.

Shareholders will receive a 50% cash dividend and another 50% in shares. In other words, they will receive VND5,000 in cash and 50 new shares for every 100 shares held, with the ex-dividend date set for March 18 and payments scheduled for May 30.

With over 10 million outstanding shares, CAP is expected to distribute over VND50 billion in cash and issue more than five million new shares, raising its charter capital to nearly VND151 billion.

The company specializes in processing and exporting paper, joss paper and other paper products, as well as tapioca starch and cinnamon oil. Tapioca starch remains its primary revenue earner.

In the 2023-24 fiscal year, the Phu Yen Province-based firm looks to obtain revenue of VND560 billion and net profit of VND70 billion, down 8% and 39% over the previous fiscal year, respectively.

Closing the trading session today, March 8, CAP extended its winning streak to the 13th straight session with a 3.36% gain to VND98,400.

The VN-Index of the HOSE plunged by 1.66%, or 21.11 points, to 1,247.35 points, as losers far outnumbered winners by 408 to 89.

Trade volume and value surged by 33.6% and 29.5% over the previous session, respectively, with 1.35 billion shares worth VND32.5 trillion changing hands. Block deals accounted for 37.6 million shares worth VND980.2 billion.

The VN30 basket, comprising the 30 largest-cap stocks, was the main drag on the index, with 29 bluechips dipping. Only BCM managed to advance 0.4% to VND69,300 per share. Among the biggest decliners were bank stocks, including BID, TCB, CTG, TPB and MBB, which all closed down by 3-4%.

BID, CTG and TCB collectively took away more than six points from the VN-Index. VND was the most actively traded stock on the southern exchange, with 65.5 million shares matched.

The Hanoi Stock Exchange echoed the downward trend on the HOSE, with 115 decliners and 64 advancers. The HNX-Index slipped by 1.05 points, or a 0.44%, to 236.32 points.

There were 127.8 million shares valued at VND2.4 trillion traded on the northern bourse.

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